Louisville Medicine Volume 65, Issue 12 | Page 30

GREATER LOUISVILLE MEDICAL SOCIETY STATEMENT OF ACTIVITIES JANUARY – DECEMBER 2017 Changes in Net Assets GREATER LOUISVILLE MEDICAL SOCIETY STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2017 Assets Dues $ 720,720 CURRENT ASSETS Cash/cash equivalents $ 533,779 Accounts receivable 232,732 Louisville Medicine advertising 86,410 GLMS Update advertising 11,915 Roster sales & advertising 179,129 MedCentral 550,761 Sponsorship revenue 15,000 INVESTMENTS AND OTHER ASSETS Admin. fee from Medical Society Professional Services 54,996 Investment at market value Admin. fee from GLMS Foundation 54,000 Annuity contracts Vital Signs 60,305 PROPERTY AND EQUIPMENT Provider Enrollment 19,925 Furniture & Office equipment 255,816 Other operating revenue 19,654 Less accumulated depreciation (123,012) Total Operating Revenue 1,772,815 Investment Income Prepaid expenses 16,226 2,754,708 68,549 132,804 TOTAL ASSETS 3,738,798 73,199 Liabilities and Net Assets Total Revenues 1,846,014 Program Service Expense Committee & General Administration $ 28 157,356 GLMS Update 40,340 Roster 121,572 MedCentral 699,928 Sponsorship 7,335 Vital Signs 17,060 Provider Enrollment 16,895 Website 12,137 Total Expenses 1,867,732 LOUISVILLE MEDICINE Accounts payable 199,138 Unearned income 505,715 DERRED RETIREMENT BENEFITS 68,549 795,109 Louisville Medicine Net increase in unrestricted net assets CURRENT LIABILITIES - 21,718 NET ASSETS Unrestricted 2,965,396 Total liabilities and net assets 3,738,798